Hugh Jackman as Jean Valjean, panting softly
If you are unfortunate enough to know me in real life, I have probably already tried to make you read Nick Hanauer’s Politico piece on how rising inequality is not in the best interest of the very rich. If you haven’t, you should read it now. I’ll wait here and look at fourth-quarter economic projections cat videos. Hanauer essentially makes the same argument that Henry Ford made in his defense of so-called “welfare capitalism:” the people who make Ford cars are the same people who buy Ford cars, so it’s good for business to pay workers a higher wage. The case for welfare capitalism is a case for a strong middle class, and it’s particularly relevant in a consumer economy. I’m more interested in Hanauer’s other argument, though: if inequality continues to increase, the inevitable consequence will be either revolution or a police state.
